November 16, 2010

US Department of Labor sues Quality Tool and Machine Inc. and president to restore more than $9,000 to SIMPLE IRA plan

SPARTA, Wis. – The U.S. Department of Labor has sued Quality Tool and Machine Inc. of Sparta and the company’s president, Jerry Freimuth, for allegedly failing to forward $9,672 in employee contributions to the company’s savings incentive match plan for employees individual retirement account, or SIMPLE IRA plan, in violation of the Employee Retirement Income Security Act.

November 16, 2010

US Labor Department sues defunct Anaheim contractor to recover employee contributions for SIMPLE IRA plan

PASADENA, Calif. – The U.S. Department of Labor has sued a former Anaheim, Calif., mechanical subcontractor and its president to restore approximately $16,000 owed to the company’s savings incentive match plan for employees individual retirement account, or SIMPLE IRA plan.

November 16, 2010

US Labor Department sues Utah company and owner to recover plan assets for abandoned 401(k) plan

SOUTH JORDAN, Utah - The U.S. Department of Labor sued Fooptube LLC of South Jordan, and its owner, David Rushton, for failing to forward delinquent employee contributions owed to the company's 401(k) profit sharing plan in violation of the Employee Retirement Income Security Act.

November 16, 2010

U.S. Labor Department sues Florida Family Magazine to restore retirement plan assets to plan participants and beneficiaries

SARASOTA, Fla. - The U.S. Department of Labor has sued Florida Family Magazine and its owner, Mary Elizabeth Winkle, to restore employer and employee assets owed to the company's savings incentive match plan for employees individual retirement account, or SIMPLE IRA plan, for the benefit of plan participants and beneficiaries.

November 16, 2010

U.S. Labor Department sues Kirkland, Wash., firm and officers over delinquent contributions owed to 401(k) plan

SEATTLE - Kirkland, Wash.-based Kineticsware Inc. and executives of the company were sued by the U.S. Department of Labor for allegedly failing to timely remit employee and matching employer contributions to the company's 401(k) plan.

November 16, 2010

US Labor Department sues Dallas-based Calypso Waterjet Systems and its officers to recover workers’ 401(k) contributions and payments

DALLAS – The U.S. Department of Labor has sued Calypso Waterjet Systems Inc. of Dallas and its officers for allegedly failing to forward employee contributions and loan repayments to the company’s 401(k) plan and for misusing plan assets for the benefit of the company in violation of the Employee Retirement Income Security Act.

November 16, 2010

U.S. Labor Department sues executive of defunct Newburgh, NY, employer to restore funds to company SIMPLE IRA retirement plan

NEW YORK - The U.S. Department of Labor has sued an officer of defunct Finnegan's Moving & Warehouse of Newburgh, N.Y., for failing to forward delinquent employee and employer contributions to the company's savings incentive match plan for employees individual retirement account, or SIMPLE IRA plan in violation of the Employee Retirement Income Security Act.

November 16, 2010

U.S. Labor Department sues defunct Windjammer Barefoot Cruises to restore losses to 401(k) plan participants and beneficiaries

MIAMI - The U.S. Department of Labor has sued Windjammer Barefoot Cruises Ltd. and its fiduciaries to restore $24,655.77 to the company's 401(k) retirement plan for the benefit of plan participants and beneficiaries. Windjammer Barefoot Cruises provided leisure cruises until 2007 and was based in Miami Beach, Fla.

The lawsuit follows an investigation by the department's Employee Benefits Security Administration into alleged violations of the Employee Retirement Income Security Act.

November 16, 2010

U.S. Labor Department sues defunct Franklin, Tenn., homebuilder to restore losses suffered by 401(k) retirement plan participants and beneficiaries

FRANKLIN, Tenn. - The U.S. Department of Labor is suing defunct homebuilder Corinthian Custom Homes Inc. and its fiduciaries to restore losses suffered by participants and beneficiaries of the company's 401(k) retirement plan.

November 16, 2010

US Labor Department sues Franklin, Ky., trucking company and owner to recover assets for 401(k) retirement plan participants and beneficiaries

FRANKLIN, Ky. – The U.S. Department of Labor is suing Truck It Inc. of Franklin and company owner Steven Ligon to restore employee contributions and lost opportunity costs to participants in the company’s 401(k) retirement plan.

November 16, 2010

US Labor Department sues Westbrook, Conn., company and president to restore misused 401(k) plan assets

NEW HAVEN, Conn. – The U.S. Department of Labor has sued Custom Navigation Systems Inc. of Westbrook, Conn., and company president Steven G. Gill for failing to forward $70,000 in employee contributions and loan repayments withheld from employees’ paychecks to the company’s 401(k) plan, in violation of the Employee Retirement Income Security Act.

November 16, 2010

U.S. Labor Department sues executive of defunct Oklahoma aircraft manufacturer for misuse of welfare benefit assets

ALTUS, Okla. - The U.S. Department of Labor has sued the owner of defunct Quartz Mountain Aerospace Inc., which operated in Altus, Okla., and Coffeeville, Kan., for misusing assets of the company's welfare benefit plan to benefit himself and the company.

November 16, 2010

U.S. Labor Department sues Albuquerque, NM, engineering company and its president to recover employee contributions owed to 401(k) plan

ALBUQUERQUE, N.M. - The U.S. Department of Labor has sued Hensley Engineering Group LLC of Albuquerque and its president, Lisa Hensley, for misusing assets of $48,528.30 in employee contributions owed to the company's 401(k) plan to benefit themselves.

November 16, 2010

US Labor Department sues Woodland Hills, Calif., company and president to protect 401(k) assets

PASADENA, Calif. – The U.S. Department of Labor has sued Sophisticated Technologies Inc., a defunct system design and software company in Woodland Hills, Calif., and former president Moshe Klein for failure to protect $26,825 in employee contributions plus lost opportunity costs owed to the company’s 401(k) plan.

November 16, 2010

US Labor Department sues Houston employee staffing company and owner for misuse of 401(k) plan assets

HOUSTON – The U.S. Department of Labor has sued NSC Cos. Inc. of Houston and its owner for failing to remit or timely forward employee contributions to the company’s 401(k) plan and using the plan’s assets for their own benefit, in violation of the Employee Retirement Income Security Act.

November 16, 2010

U.S. Labor Department sues Somerset, Pa., companies and executive to protect 401(k) profit-sharing plan participants

SOMERSET, Pa. - The U.S. Department of Labor has sued Super City Sports Sales Inc., general manager James V. Sujansky and parent company Pioneer Inc. for failing to remit employee contributions to the company's 401(k) profit-sharing plan, and for withdrawing all remaining plan funds in violation of the Employee Retirement Income Security Act.

November 15, 2010

US Department of Labor reaches out to Michigan schools to keep teens safe at after-school jobs -

DETROIT — High schools and junior high schools in Michigan will receive valuable information this week from the U.S. Department of Labor about state and federal work rules designed to keep teens safe at work and productive at school.

November 15, 2010

US Labor Department streamlines federal hiring process

Office of Personnel Management and other federal agencies discuss steps taken toward hiring reforms, simplified application process for job candidates

November 15, 2010

EBSA Assistant Secretary of Labor Phyllis C. Borzi to discuss enforcement initiative to protect workers’ retirement and health benefits

WASHINGTON – Assistant Secretary of Labor for the Employee Benefits Security Administration Phyllis C. Borzi will hold a conference call with members of the media on Nov. 16, to discuss a nationwide enforcement initiative to protect the retirement and health benefits of workers. The employee contributions initiative protects contributions deducted from workers’ paychecks by ensuring that the funds are deposited into their plans in order to pay future benefits.

November 10, 2010

ETA Press Release: Unemployment Insurance Weekly Claims Report

SEASONALLY ADJUSTED DATA In the week ending Nov. 6, the advance figure for seasonally adjusted initial claims was 435,000, a decrease of 24,000 from the previous week's revised figure of 459,000. The 4-week moving average was 446,500, a decrease of 10,000 from the previous week's revised average of 456,500.

The advance seasonally adjusted insured unemployment rate was 3.4 percent for the week ending Oct. 30, a decrease of 0.1 percentage point from the prior week's revised rate of 3.5 percent.